Download or read book The Parallel Market for Foreign Exchange in an Oil Exporting Economy written by Mr.Adnan Mazarei and published by International Monetary Fund. This book was released on 1995-07-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a model for the determination of the parallel market exchange rate premium in a country where oil export earnings accrue directly to the government, and foreign exchange is centrally allocated for the importation of specific goods. Next, it studies the parallel market for foreign exchange In the Islamic Republic of Iran during the period 1978-90. The paper then examines the various time series properties of parallel market exchange rate in Iran, and the evidence of the role of oil and non-oil exports in the determination of the parallel market premium.
Download or read book The Parallel Market for Foreign Exchange in an Oil Exporting Economy written by Adnan Mazarei and published by . This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a model for the determination of the parallel market exchange rate premium in a country where oil export earnings accrue directly to the government, and foreign exchange is centrally allocated for the importation of specific goods. Next, it studies the parallel market for foreign exchange in the Islamic Republic of Iran during the period 1978-90. The paper then examines the various time series properties of parallel market exchange rate in Iran, and the evidence of the role of oil and non-oil exports in the determination of the parallel market premium.
Download or read book Exchange Rate Regime Considerations in an Oil Economy written by Oya Celasun and published by International Monetary Fund. This book was released on 2003-03-04 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a brief overview of the evolution of exchange rate policy in the Islamic Republic of Iran from 1993 to 2002 and reviews the basic criteria for the choice of the exchange rate regime in the medium term. The analysis highlights the merits of an intermediate regime which would allow the authorities to smooth out excessive short-term exchange rate fluctuations while letting nominal exchange rate movements facilitate real exchange rate adjustments called for by major oil price shocks.
Download or read book The paralel market for foreign exchange in an oil exporting economy written by Adnan Mazarei and published by . This book was released on 1995 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oil the Parallel Market for Foreign Exchange and the Macroeconomy written by Adnan Mazarei and published by . This book was released on 1995 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards an Understanding of the Dynamics of the Parallel Market in Foreign Exchange written by Joy Mylène ten Berge and published by . This book was released on 1991 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation and the Black Market Exchange Rate in a Repressed Market written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2016-08-19 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a stylized general equilibrium model of the Venezuelan economy. The model explains how the recent sharp fall in oil revenue combines with foreign exchange rationing to produce a steep rise in inflation. Counterintuitively, a devaluation of the official exchange rate could temporarily reduce inflation. The model also explains how the hyper-depreciation of the black market exchange rate reflects prices in the most distorted goods markets.
Download or read book Parallel Currency Markets in Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-12-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy —including imposition of foreign exchange restrictions, devaluation, and unification of exchange markets— in countries with a sizable parallel market are also examined.
Download or read book Parallel Markets For Foreign Exchange written by Ibrahim Onour and published by LAP Lambert Academic Publishing. This book was released on 2014-08-11 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has become apparent to many economists that a sound economic policy should consider the link between the parallel market for foreign exchange and the rest of the economy. In many developing countries, where there is a shortage of foreign currency reserves, the parallel market for foreign exchange appears to be well-established to the extent that government policies are occasionally prompted by changes in the parallel market premium. The book aims to enhance scientific understanding of foreign exchange policy issues in countries where black markets for exchange are functioning. The book uses a distinctive approach of having a fairly detailed decscription of a theory or models followed with a rigorous econometric analysis of evidences. The content of the book can be useful analytical tool for academician, researchers, and investors in developing countries.
Download or read book Parallel Exchange Rates in Developing Countries written by Miguel A. Kiguel and published by Springer. This book was released on 2016-07-27 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: '...the most definitive study of the subject, assembling an all-star cast to address the many outstanding questions and succeeding beyond expectations in combining elegant theory and state of the art econometrics to reach very sensible policy conclusions.' - Mohsin S. Khan, Deputy Director, Research Department, International Monetary Fund ' This book fills an important vacuum in the literature of the economic consequences of parallel markets and should prove of great value to students of economic development and to policy-makers in developing countries as they struggle to reform their exchange rate and trade incentive systems. Here they will find all that they need to know.' - Vittorio Corbo, Professor of Economics, Universidad Catolica de Chile 'A most comprehensive treatment of the relationships between parallel foreign exchange markets and macroeconomic policies, both across countries and over time. The book substantially enhances our understanding of how these systems work in practice and will be of great interest to policy-makers, researchers and graduate students of economic policy.' - Samuel M. Wangwe, Professor of Economics, University of Dar es Salaam and Executive Director, Economic and Social Research Foundation, Dar es Salaam, Tanzania This book examines extensive empirical evidence on the macroeconomic implications of parallel exchange rates in developing countries. Eight case-studies from Africa, Latin America, and Turkey provide detailed evidence on the emergence of parallel exchange rates, their impact on macroeconomic performance, and the criteria for successful exchange-rate unification. A chapter on European dual exchange rates summarizes the contrasting experience of industrial countries. An overview chapter lays out the analytical framework, assesses the evidence, and draws policy conclusions.
Download or read book Recognizing Reality Unification of Official and Parallel Market Exchange Rates written by Mr.Simon T Gray and published by International Monetary Fund. This book was released on 2021-02-05 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some central banks have maintained overvalued official exchange rates, while unable to ensure that supply of foreign exchange meets legitimate demand for current account transactions at that price. A parallel exchange rate market develops, in such circumstances; and when the spread between the official and parallel rates is both substantial and sustained, price levels in the economy typically reflect the parallel market exchange rate. “Recognizing reality” by allowing economic agents to use a market clearing rate benefits economic activity without necessarily leading to more inflation. But a unified, market-clearing exchange rate will not stabilize without a supportive fiscal and monetary context. A number of country case studies are included; my thanks to Jie Ren for pulling together all the data for the country case studies, and the production of the charts.
Download or read book The Foreign Exchange Market in Nigeria written by R. A. Olukole and published by . This book was released on 2002 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants of Export Supply and the Demand for Import in a Liberalised Economy written by T. K. Yekini and published by Nigerian Institute of Social and Economic Research (NISER), University of Ibadan. This book was released on 1999 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Liberalization written by Ade T. Ojo and published by . This book was released on 1998 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Volatility and Trade Flows Some New Evidence written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-05-19 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
Download or read book Determinants of Venezuela s Equilibrium Real Exchange Rate written by Mr.Juan Zalduendo and published by INTERNATIONAL MONETARY FUND. This book was released on 2006-03-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Venezuelan Bolivar is pegged to the U.S. dollar and supported by foreign exchange restrictions. To assess the appropriateness of the peg during the current period of high oil export earnings and the likely consequences of a liberalization, this paper attempts to disentangle the effects of oil prices from other factors underlying the equilibrium real exchange rate, and examines the role of foreign exchange controls by extending the application of a vector error correction (VEC) model to parallel market exchange rates. Several findings are worth noting. First, oil prices have indeed played a significant role in determining a time-varying equilibrium real exchange rate path. Second, oil prices are not the only important determinant of the real effective exchange rate: declining productivity is also a key factor. Third, appreciation pressures are rising. Finally, the speed of convergence of a VEC model using parallel rather than official rates is higher, suggesting that the government has been able to maintain sharp deviations between the official and equilibrium rates because of Venezuela's oil dependency and the concentration of oil income in government hands.
Download or read book Republic of Yemen written by International Monetary Fund and published by International Monetary Fund. This book was released on 2001-04-20 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
